Armstrong Watson has helped countless law firms incorporate their practices. We will help you decide if incorporating is the right decision for you, and if you decide to proceed, we'll manage the process from end-to-end, ensuring a smooth and seamless transition.
We will agree fixed fees for each stage of the process in advance and our costs are a fraction of the large tax savings made through incorporation as outlined in the process below.
A managed service to convert law firms to Limited Companies.
Sole practitioners, partnerships or LLPs of all sizes in all locations.
Attend two hour assessment meeting, two hour planning meeting, one hour shareholders' agreement meeting. Provide regular updates to Partners. Action points from the planning meeting.
Incorporation of your law firm (see the detailed process above).
£995 plus VAT and disbursements for the initial assessment meeting. £1,195 plus VAT and disbursements for the planning meeting and provision of the incorporation checklist. The above are the fixed fee payable in advance cost options. Additional fees to be agreed in advance following the planning meeting.
Armstrong Watson has helped, or is helping, nine law firms to incorporate their practices within a twelve month period.
The goodwill in one of those was valued at £300,000 for a two partner practice, initially saving £45,000 in tax between the two partners. Ongoing annual tax savings are expected to amount to £15,000 per partner.
In 2016 we engaged the services of Armstrong Watson’s specialist Legal Sector as we sought to change our business structure to reflect our modern approach to Law at our dynamic and growing law firm. Andy Poole and the team were able to guide us through the various structure options to find the structure which met our business needs. The checklist approach used allowed us to delegate tasks to the appropriate people and track what needed to be done and when. As part of this process we were introduced to one of Armstrong Watson’s Financial Planning team who advised us on ensuring the business and its key stakeholders are adequately protected in the event of death or critical illness and continues to guide us through our pension planning including the use of commercial property. I actually enjoy talking with him and the rest of the Armstrong team! We were delighted by the forward thinking joined up approach and look forward to our working relationship with the Armstrong Watson team continuing to develop.
Ben Pepperell, Chief Executive Officer, Pepperells Solicitors